Business Overview

Contents Product

Market Opportunity

Competition Landscape

Valuation and Exit scenario

Team Analysis

The 5-year Growth

Cohort Analysis

Investment Thesis

Growth Drivers
 Business Overview

● Instant Procurement Services Pvt. Ltd. is one of India’s leading digital MRO(Materials, Repairs and Operation)
Integrator offering end-to-end procurement & fulfilment of consumables/ indirect spends of its customers
founded in 2015
● Diversified product portfolio and vendor relationships across Mechanical,Electrical, Power tools, IT, Safety
supplies, Packaging and Biofuel
● Catering to enterprise customers across 7+ diverse industries such as FMCG, FMCD, Auto. Healthcare,
Industrials, Metal, including Colgate, HUL, Dana, Harman, Pidilite, Britannia, Whirlpool etc
● In 2018, the startup turned profitable after it onboarded Colgate Palmolive as one of its client
● Raised $10Mn in Series A with investors like Sixth Sense Ventures and IndiaMart
● Recorded revenue of ₹208 crore for FY 23, compared to ₹101.7 crore the year before
Product
Market
Opportunity
● Global Procurement-as-a-Service (PaaS) market is expected
to grow to $13.58 Bn by 2030 at a CAGR of 10.4 per cent
● MRO in India is a large ~$35B Market expected to double in 5
years with 13% CAGR
● South-east Asia (Malaysia, Indonesia and Thailand) and
Middle east industry with digital penetration of less than 2%
recorded $50 Bn market opportunity in 2022
● Indian Government spend through GeM on value-add
projects will be 4x in 2030 creating core market opportunity
for $530 Mn
● PSU MRO procurement is an additional $25 Bn Opportunity
Competition Landscape
Valuation and Return
Valuation and Exit Scenario
Scenario

● Using Market-based valuation, the firm value is calculated to be $97.925 Mn with revenue of $25.051 Mn

JD.com Zoro Monotaro Moglix

EV/Revenue 2.857 3.000 3.529 6.250

● After FY 26, the revenue growth rate projections are below 55% with $700.916 Mn valuation of firm
● Exiting the firm in 2027, will give approximately give 7 times the capital invested
Team Analysis
● Piyush Tiwari, Head, Operations
○ Edu: IIT B, 12+ years exp in operations and manufacturing
● Aman Pruthi, Head, Technology
○ Edu: IIT B, 11+ years exp in quant and analytics
● Abhishek Singh, Head, Enterprise Business Development
○ Edu: ISB, exp in sales
Anish Popli ● Raxit Bisht, Head, Key Account Management
Founder & CEO ○ Edu: UPES BTech, Since 2015
● Hitesh Lunawat, Head, Finance
● Edu: NIT Trichy and IIM L
○ Edu: MBA, 3+ years exp in operations and accounting, since 2016
● 10+ years exp. in design
● Sanjana Kapoor, Head, Analytics
engineering, operations,
○ Edu: DU and Texas McCombs, since 2019
procurement & indirect
● Ankur Kandoi, Head, Government business
sales
○ Edu: UPES BTech, Since 2016
● Supported by 182 employees in branch & operations team
The 5-year Growth
FY 24 FY 28 FY 30
ProcMart $55.04M 61%
$367.18M $639.05M
32%

Enterprise $34M $247M 20%

$422M
41%

GeM $22M $85M $123M

170% 55%

International $1M $50M $119M

61% 32%
Cohort Analysis
Tech Stats
● 7 industries catered
● 50 enterprise clients
● 3.8k+ vendors
● 150k+ SKU’s handled
● 5k+ transactions per month
High Stickiness & Growth
● 60% of revenue came from
more than 3 yr old customers
● 289% CAGR from 2 year old
customer
● Only 1 customer churned in last
4 years
Customer Revenue
● INR 50 Mn+ revenue
came from 7 customers
which is expected to
increase to 19 in FY24
Investment Thesis

● Size of market available in India is $35 Bn which is expected to grow to

$77 Bn in 2030, therefore first mover advantage

● Robust product as 150k+ SKUs handled with 1 customer churned so

far backed by analytics

● Strong traction as startup is profitable since 2018 with ARR of $25.05

Mn and revenue growth rate of 105%

● Holds less than 0.5% Market share, huge potential for growth
 Growth Drivers
Revenue
(USD Mn)

ROCE 14% 11% 20% 36% 18% 18%

Thank you!